Shared by
beno
Fundamentals
As of: Sept 30 2019
Shares Outstanding (latest from broker): 17.3m
Cash: 2.544m (Jan 28 2020: +$5m closed offering, Feb 13 2020: $10.2m closed offering)
Current liabilities: 307k
Current ratio: 10
NWC (total current assets - total current liabilities): 2.777m
Accumulated deficit: 23.154m
Book value per share (Stock holder equity / Shares outstanding): 0.192
Monthly Burn rate (net cash used in operating activities / months): 433k
Estimated current cash: 15.58m (counting recent offerings)
Baby Shelf Exemption price per share: 4.33
Catalysts / News / Painting the picture
Enough cash for 35 months
$25m S-3 Aug 2018, $4.3m left
PR on Coronavirus: Co-Diagnostics, Inc. Designs Test for New Coronavirus Using CoPrimer Platform
Receives CE (Europe approved) Mark for Novel Coronavirus Test
March 11 2020: WHO officially calls COVID-19 a global pandemic
March 13 2020: US declares COVID-19 an emergency / says US will partner with Teladoc Health
Technical Analysis
-Intraday pattern: Parabolic Fade
-Levels: 10, 10.50, 11, 11.50
Original Plan / Strategy
First test short of 10.50 with half dollar confluence
Review
Had hard time getting filled due to SSR. stock was very illiquid and I just took 10 cents when I was ITM.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-20 11:49:02 | CODX | sell | $10.500 | short |
| 2020-03-20 11:49:02 | CODX | sell | $10.540 | short |
| 2020-03-20 11:52:37 | CODX | buy | $10.400 | short |
| 2020-03-20 11:54:32 | CODX | buy | $10.440 | 0 |
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